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BUDGET 2018 ON NOVEMBER 9

The government will present its Budget 2018 on November 9. It will present government expenditure for the next year estimated to be Rs 3,982,367 million.

Revenue including foreign grants is estimated at Rs 2,175,000 million.

Finance Minister, Mangala Samaraweera this week received Cabinet approval for the Budget.

The Appropriation Bill for Budget 2018 is expected to be tabled in Parliament in the last week of September with the Budget Speech held on November 9. The debate on the second reading will start on November 10 and the third reading and vote will be on December 9.

According to the proposals Rs 1,308,939 million will be spent on recurrent expenditure while Rs 668,324 million has been allocated for capital expenditure.

Provisions have also been made under special laws to service public debt and payment for widows and orphans pensions amounting to Rs 2,005,103 million. Total borrowing requirement from both foreign and domestic sources has been estimated at Rs 1,813,367 million.